3D Printing Plastics Market | Revenue, Key Players, Supply-Demand, Investment Feasibility and Forecast 2023
Market Synopsis:
Market Research Future postulates that the Global 3D Printing Plastics Market is estimated to garner USD 1,700 million, grabbing a CAGR of 23.3% throughout the forecast period (2016-2023). 3D Printing is referred to as a manufacturing process where an object is synthesized in three dimensions by layering materials in succession from a predefined computer file comprising the digital 3D model. The objects can be formed of any shape and can be created by created by using digital model data from a 3D model or any electronic data source like additive manufacturing file.
Industry Updates:
February 11, 2019: The Refabricator, a 3D printer, allows the astronauts to create tools of their specifications, without having to wait for months for items to be brought down from the earth. The Refabricator can recycle the things it has already printed and turn them again into new materials. It can also create the raw 3D printer filament from old packaging supplies, like plastic shipping materials from NASA, which uses to pack its cargo for its trip to space.
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Competitive Dashboard:
The prominent players operating the Global 3D Printing Plastics Market are Stratasys Ltd. (the U.S.), L.P. (the U.S.), Arkema Group (France), EOS GmbH Electro Optical Systems (Germany), Materialise (Belgium), CRP Group (the U.S.), 3D Systems Inc. (the U.S.), SABIC (Saudi Arabia), Evonik Industries AG (Germany), Royal DSM N.V. (The Netherlands), ENVISIONTEC INC. (Germany), DowDuPont Inc. (the U.S.), Oxford Performance Materials (the U.S.), Clariant (Switzerland), HP Development Company, and BASF SE (Germany).
Market Potential and Pitfalls:
With the advent of several types of materials and polymers that are used for printing purposes, 3D Printing is developing at a rapid pace. 3D Printing of the 3-dimensional objects as additive or prototype manufacturing under the control of computers is carried out extensively in several end-user industries. This has resulted in a remarkable expansion of the 3D printing plastics market across the globe. With the rising utilization of recycled plastics as a printing material in the 3D printers, coupled with the augmenting demand for 3D printed plastic components for fabrication, casting, and manufacturing of objects, the 3D Printing Market is estimated to propel throughout the appraisal period. The accelerating popularity of 3D Printing Technology in science, automotive, and industrial sector is likely to trigger the demand for 3D Printing Plastics across the globe. The demand for bio-based alternatives is also amplifying, thereby contributing to the market growth to a large extent. Additional factors gearing up the market growth are the augmenting demand for composite grades of 3D printing plastics in industrial applications.
On the contrary, lack of adoption of latest technologies in emerging regions such as the Middle East & Africa and the Asia Pacific, coupled with the environmental mandates imposed on the disposal of 3D printed plastic products are some of the major concerns considered to slow down the market growth throughout the assessment period.
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Global 3D Printing Plastics Market: Segmental Analysis
The Global 3D Printing Plastics Market has been segmented on the basis of Type, Form, Application and End-Use Industry.
By Mode of Type, the Global 3D Printing Plastics Market has been segmented into acrylonitrile butane styrene, photopolymer, polylactic acid, polyamide, and others. Among these, the photopolymer segment is predicted to occupy the larger share of the market.
By Mode of Form, the Global 3D Printing Plastics Market has been segmented into powder, filament, and liquid/ink. Among these, the filament segment is predicted to occupy the largest market share as this segment has a high demand both in general as well as in the commercial applications.
By Mode of Application, the Global 3D Printing Plastics Market has been segmented into manufacturing and prototyping. Among these, the prototyping segment is predicted to occupy the largest market share and generate high demand across several end-use industries.
By Mode of End-Use Industry, the Global 3D Printing Plastics Market has been segmented into aerospace & defense, healthcare, electrical & electronics, and automotive. Among these, the healthcare segment is considered to account for the largest market share owing to the augmenting demand for 3D printing in orthopedics, medical devices and equipment, and dental implants.
Regional Insights:
Geographically, 3D Printing Plastics Market spans across regions namely, Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.
Among all the regions, North America is likely to account for the largest market share. The growth is attributed to the presence of established competitors in this region. Also, with the escalating demand for 3D printed plastics, the market in this region is estimated to flourish. Moreover, the positive adoption rates of this technology are likely to augment the growth in the coming years.
The Asia Pacific region is considered to be the fastest growing region during the appraisal period. The growth is credited to the rising demand stemming from the end-user industries. China is considered as a major consumer of 3D Printing Plastics.
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